The S & P 500 index closed down 43.69 points, or 1.08%, at 3986.92 on Tuesday, August 30; The consumer confidence index of the US Chamber of Commerce in August was higher than expected, reaching the highest level since May this year and rising for the first time in four months. This shows that Americans are becoming more optimistic about the economy against the backdrop of falling oil prices.
S & P SP500 - 4-hour K-line diagram shows:
According to the 4-hour chart, the market is shrouded in short-term sentiment. After the low-level narrow range consolidation and translation, the short-term decline has not stopped. The MACD index maintains consolidation and translation in the short-term region, and the RSI index is weak in the short-term region;
Long and short turning point: 3993
Pressing position: 4017, 4042
Support position: 3966, 3949
Trading strategy: 3993 lower bearish, target 3966, 3949
Alternative strategy: bullish above 3993, targets 4017 and 4042